Posts Tagged ‘Ponzi’

Target of Ponzi probe still in business in Amherst

Guy Gane Jr. “keeping the doors open” to office after federal raid. Federal officials shut down Guy W. Gane Jr.’s alleged Ponzi scheme in May after he took $5.7 million of his clients’ life savings. Then why is he still in business? A Buffalo News reporter stopped at the Watermark Financial Services Group office on […]


Leaning Tower of Ponzi

Here’s a nice little history of Charles Ponzi and the original Ponzi scheme. This was plucked from an excellent post on The very nature of our financial system is a Ponzi scheme. In 1903, a destitute Charles Ponzi stumbled upon a way to make some quick cash by taking advantage of the postal system. […]